STAMFORD, Conn., June 27, 2017 /PRNewswire/ -- Tronox Limited
(NYSE:TROX) announced that its Board of Directors has elected its
current independent lead director Ilan
Kaufthal to serve as non-executive chairman of the
board. The board also appointed Timothy C. Carlson, senior vice president and
chief financial officer of the company, to fill the vacancy created
by the untimely passing of former Chairman and Chief Executive
Officer Thomas Casey on May 26, 2017. Mr. Carlson is expected to
step-down as a director upon the closing of the acquisition of
Cristal's TiO2 business when Cristal will be entitled to
nominate two Class A directors.
As previously announced, the board has retained Korn Ferry to conduct the search for a permanent
chief executive officer and will consider internal and external
candidates. On June 27, 2017, the
board formed a special ad-hoc succession committee to oversee the
search process. Ilan Kaufthal will
serve as chairman of the succession committee.
"We are grateful that Ilan has agreed to serve as non-executive
chairman of the board and chairman of the succession committee
during this period of transition for the company," said
Peter Johnston, CEO of Tronox.
"We will benefit immensely from Ilan's significant M&A
experience and leadership skills as we work to complete our pending
acquisition of Cristal's TiO2 business and the process
of selling our Alkali business; we are, of course, also grateful to
Ilan for leading our search for a permanent chief executive
officer. We also thank Tim for taking on the added
responsibility of being a director as we seek to fill permanently
the vacancy created by Tom's passing."
Mr. Kaufthal added: "As non-executive chairman, I intend to
engage actively with Peter, Tim, the rest of the management team
and the company's advisors to ensure the successful completion of
our pending transaction with Cristal and our Alkali sale process
and oversee the planning for the post-closing integration of
Cristal and Tronox's TiO2 businesses. At the same
time, I expect to continue my work with my fellow directors to
conduct our CEO search. I am excited about the future of the
company."
Biographical Information
Ilan Kaufthal
Mr. Kaufthal has served as a director of the company since
February 2011 and as lead independent
director since September 2016.
He is chairman of East Wind Advisors, a specialized
investment banking firm serving companies in the media, education
and information industries. Mr. Kaufthal is currently a director of
Quinpario Acquisition Corp 2, a blank check company formed for the
purpose of entering into a business combination; and Cambrex
Corporation, a supplier to the pharmaceutical industries. Earlier
in his career, he was vice chairman of investment banking at Bear
Stearns & Co., vice chairman and head of mergers and
acquisitions at Schroder & Co., and senior vice president and
chief financial officer of NL Industries. Mr. Kaufthal is a
graduate of Columbia University and the
New York University Graduate School of
Business Administration.
Timothy C. Carlson
Mr. Carlson currently serves as senior vice president and chief
financial officer of the company, and has done so since October
2016. Prior to this position, he served as chief financial
officer of Precision Valve Corporation since July 2015, where
he led EBITDA improvement activities, improved internal controls,
and standardized the company's financial reporting and operating
metrics. From September 2007 to
May 2014, Mr. Carlson served as the
executive vice president, chief financial officer and treasurer of
ATMI, Inc., a publicly traded global supplier of semiconductor
materials and materials packaging and delivery systems used in the
manufacturing of microelectronics devices. Earlier in his
career, Mr. Carlson held a series of global finance, strategic
planning, and auditing roles at various divisions of Campbell Soup
Company. Mr. Carlson holds a Bachelor of Science degree in
economics from the University of
Pennsylvania, Wharton School of Business and is a licensed
certified public accountant.
About Tronox
Tronox Limited is a global leader in the
mining, production and marketing of inorganic minerals and
chemicals. The company operates two vertically integrated
businesses: Tronox Titanium Dioxide (TiO2) and Tronox
Alkali. For more information, visit tronox.com
Media Contact: Bud Grebey
Direct: +1.203.705.3721
Mobile: +1.203.219.5222
Investor Contact: Brennen
Arndt
Direct: +1.203.705.3722
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SOURCE Tronox Limited